Know Your Business

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Overview

Verifying the identities of businesses you interact with is challenging, given the need to perform identity verification on directors or beneficial owners and document verification, proof of address and in-person screening calls. In today’s digital world, clients expect a fast, compliant and frictionless experience Know Your Business Experience. Fourthline’s automated offering will improve your operational efficiency, whilst achieving AML compliance.

Our modules are highly customizable and can be used at each stage of your customer’s journey to ensure that you collect and verify all essential information to achieve compliance. Our KYB solution offers a seamless client onboarding journey, no matter how complex your requirements are. Using the latest technologies, including biometric facial recognition, ID authenticity,

On completion of the verification, details of the company, beneficial owners and director are all added to Fourthline’s ongoing monitoring service, so that you will be instantly notified of any changes in beneficial ownership, directorship or PEPs and Sanctions status. Finally, everything is held in a secure, searchable archive for ease of reference and full audit trail.

The current regulatory landscape makes it important to secure your own interest before engaging with another business. For this, Know Your Business practices comes in handy as they help a company to verify the corporate information of their potential clients and personal information of the higher management handling the operations of that client company.

Our combination of machine learning algorithms and human eye can easily detect any attempt of forging identity documents or even ownership structure . Fake credentials or personal information provided about the top management, a common practice in the case of Shell companies with complex management structures, can also be easily traced by Fourthline. Our geolocation and document authenticity checks identify the true country of origin for international clients and whether a certain company has been incorporated at a certain tax haven or not.

Key Features

  • Best-in-class fraud detection Our combination of machine learning, AI (OCR and NFC) and the human eye can easily detect any attempt of forging ID documents or ownership structures
  • International coverage Identify the ultimate beneficial owners (UBO) of companies you are doing business with all around the world
  • Automated and comprehensive KYB solution Identify hits trough our proprietary software checking the company registration, business license updates, and identity of directors and other owners
  • Database checks 500+ databases, incl. sanctions/watchlists, PEP, adverse media, police and country-specific databases. Identify hits and eliminate false positives through our proprietary software
  • ID Verification of natural persons Verify 3,500+ documents using hundreds of AI analyzers and proprietary OCR/NFC technology, including hard documents. Extract personal details to avoid friction and verify documents as secondary ID
  • Joint forces Collaborate on flagging money mules, professional ID fraudsters, and other high-risk sign-ups through the biggest European GDPR-compliant solution for financial institutions
  • ID Authenticity Perform a series of checks to establish whether a document is truly authentic. Leverage AI to localize and mark security features on a randomized basis with a full audit trail
  • Second opinion Use highly trained fraud experts for a second opinion on thousands of automated checks. The human eye blocks fraudsters attempting to the algorithms
  • Daily monitoring Catch recurring or colluding fraudsters through daily monitoring. Find overlapping data points and statistical anomalies with our enhanced Fraud and Profiling Investigations
  • Biometric Verification Use advanced 3D technology and facial recognition algorithms to match a selfie or short video to the ID document. Benefit from a four-eye review if AI doesn’t return conclusive results
  • Device metadata Create data consistency checks by extracting and comparing visible and invisible data points including geolocation, device metadata and address

Key Benefits

  • Best-in-class fraud detection Catch 60% more fraudsters through sophisticated modules unique to Fourthline
  • Industry-leading conversion levels Onboard persons in 90 seconds, saving >80% in costs/time
  • Unique combination Our combination of machine learning, AI (OCR and NFC) and the human eye can easily detect any attempt of forging ID documents or ownership structures
  • Unparalleled compliance and security Bank grade security and compliance, regulatory license in UK and NL, locally compliant with GDPR legislation
  • Customizable solution Our KYB solution consists of several Default Modules (incl. Bank Account Check, KVK validation Thomson Reuters World Check validation, Enhanced Fraud Investigation) and Additional Modules that are customizable according to your priorities